Walmart unit asked to explain India biz model

Walmart unit asked to explain India biz model

New Delhi : Walmart Inc’s unit has been asked to explain its business model in India after its acquisition of e-commerce platform Flipkart, following an objection raised by a local traders body. India’s National Company Law Apellate Tribunal (NCLAT), which is in charge of matters related to Indian companies, issued an order to Walmart Inc subsidiary Wal-Mart International Holdings Inc, the document dated Sept. 6 showed.

The Confederation of All India Traders filed their plea late last month against the $16 billion acquisition. NCLAT has asked Wal-Mart International to file its reply by Sept. 20.




Workplace Happiness

Workplace Happiness

There is constant pressure to innovate and position products and services more creatively than ever before. Innovation and creativity are more likely to happen when employees are happy. Employees will not be happy if they have heightened states of on-going daily anxiety where they expect somethin

Coming soon to China: the car of the future

Coming soon to China: the car of the future

Global automakers are positioning for a brave new world of on-demand transport that will require a car of the future -- hyper-connected, autonomous, and shared -- and China may become the concept’s laboratory. With ride-hailing services booming and car-sharing not far behind, the ne

Japan, China shares climb in thin holiday trade

Japan, China shares climb in thin holiday trade

Tokyo and Shanghai stocks closed higher yesterday but trade lacked direction with several major markets closed for Easter holidays. In Japan, the benchmark Nikkei 225 index added 0.50 percent, or 110.44 points, to 22,200.56, while the broader Topix index climbed 0.12pc, or 1.96 points, to 1,616.9

Oil lifts most of Gulf markets

Oil lifts most of Gulf markets

Saudi Arabia’s stock market rose yesterday on the back of its banks as rising oil prices lifted most major Gulf markets, while Egypt was partly dragged down by its biggest lender Commercial International Bank. Brent oil hit 2019 high above $72 a barrel yesterday, propelled by steady economi

Minister pledges to back start-ups, new businesses

Minister pledges to back start-ups, new businesses

Minister of Industry, Commerce and Tourism, Zayed Alzayani yesterday pledged the government ’s full support to start-ups and new commercial businesses in the Kingdom. The minister was speaking during the Bahrain British Business Forum (BBBF) meeting held yesterday at The Gulf Hotel

Export Bahrain, Gulf Air Cargo in deal

Export Bahrain, Gulf Air Cargo in deal

Export Bahrain signed an exclusive partnership with Gulf Air’s Falcon Cargo to provide SMEs in the Kingdom of Bahrain, exporting their goods to the tune of 100 kilograms or above, with a special discount of up to 40 percent on their cargo exports. The partnership agreement was signed during

China probes Sweden’s Ericsson over licensing

China probes Sweden’s Ericsson over licensing

Swedish telecom giant Ericsson said yesterday that China’s market regulator was investigating the company over licensing issues as countries around the world prepare to roll out the next generation of mobile networks. China’s State Administration of Market Regulation is invest

Bapco holds annual luncheon, 2018 awards

Bapco holds annual luncheon, 2018 awards

Bapco celebrated its environmental, health and safety (EHS) achievements during 2018 by holding its annual luncheon for more than 300 Bapco and contractors employees on 11 April 2019 at Bapco Club in Awali. During the gathering, awards were presented to Bapco departments, contractors and

PSG title party delayed again

PSG title party delayed again

Paris Saint-Germain missed the chance to seal their sixth Ligue 1 title in seven years for the second week running on Sunday after a 5-1 hammering at Lille, their biggest league defeat in 10 years. Thomas Tuchel’s side could have been crowned champions in record-equalling time last weekend


Workplace Happiness

Workplace Happiness

There is constant pressure to innovate and position products and services more creatively than ever before. Innovation and creativity are more likely to happen when employees are happy. Employees will not be happy if they have heightened states of on-going daily anxiety where they expect somethin

Egyptians vote to “Do the right”

Egyptians vote to “Do the right”

Egyptians voted yesterday in a referendum that aims to cement the rule of President Abdel Fattah al-Sisi. Voters were being asked to back amendments to the constitution to allow Sisi, 64, to run for another six-year term while boosting his control over the judiciary and giving the military even g

Thai Navy to remove bitcoin-rich couple’s sea home

Thai Navy to remove bitcoin-rich couple’s sea home

The Thai Navy will begin removing a “seastead” home built by an American bitcoin investor and his partner off the coast of Thailand, an official said yesterday, as the couple remains in hiding from charges accusing them of violating the country’s sovereignty. Chad Elwartowski an

Explosion, gunfire rock downtown Kabul

Explosion, gunfire rock downtown Kabul

Suicide bombers and gunmen launched an attack near a government ministry in central Kabul on Saturday, officials said, in an ongoing assault that destroyed weeks of relative calm in the capital. The attack near the communications ministry occurred one day after planned talks between the Taliban a

Pakistan says killer gunmen based in Iran

Pakistan says killer gunmen based in Iran

The gunmen who killed 14 members of Pakistan’s security forces in the country’s southwest earlier this week came from Iran to carry out the attack, officials said Saturday. Some 20 people wearing uniforms from the paramilitary Frontier Corps stopped buses in Balochistan provin

Cyber security centre launched

Cyber security centre launched

A 24/7 intelligence-driven security operation center to tackle cyber threats have been launched in the Kingdom. The new NGN security operation center (SOC) powered by Group-IB enables the local government, private companies, and financial organisations to get expert assistance in proactive monito

BAC plans ‘90 per cent Bahrainisation by 2021’

BAC plans ‘90 per cent Bahrainisation by 2021’

The Minister of Transportation and Telecommunications and Bahrain Airport Company (BAC) Chairman, Kamal Ahmed, has revealed plans to increase BAC’s Bahrainisation rate to more than 90 percent by 2021. The BAC has put in place further training and development plans at the beginning o

Bahraini youth’s media strides stressed

Bahraini youth’s media strides stressed

Information Minister Ali Al Romaihi lauded creativity of the Bahraini youth in media production, stressing the need to support it with all possible means to ensure the sustainability of the national media growth in the prosperous era of His Majesty King Hamad bin Isa Al Khalifa. He was sp

Hindu temple foundation stone laid

Hindu temple foundation stone laid

The foundation stone for the first traditional Hindu Temple was laid in Abu Dhabi yesterday. The ‘Shilanyas Vidhi’ ceremony was presided over by Mahant Swami Maharaj, the spiritual leader of BAPS Swaminarayan Sanstha - the religious and social organisation building the temple. The cer

Setback for Houthis

Setback for Houthis

Saudi-led Arab coalition jets targeted Houthi drone sites in Yemen’s capital, Sanaa, on Saturday morning, the Saudi Press Agency (SPA) reported. Coalition spokesperson, Col Turki Al Maliki, said that at 12:40 am (GMT) the Arab coalition carried out the military operation to destroy Houthi d

Djokovic knocked out as Nadal battles on in Monte Carlo

Djokovic knocked out as Nadal battles on in Monte Carlo

World number one Novak Djokovic was dumped out by Daniil Medvedev while Rafael Nadal survived a struggle to reach the semi-finals of the Monte Carlo Masters for the 14th time yesterday. Djokovic, twice a champion in the principality, lost serve five times in a 6-3, 4-6, 6-2 defeat by Russ